Meaning of "expected grade"

When online banking applications ask you to fill in "expected grade/result", does it mean:

the GPA you imagine you're going to get (if you are yet to complete the first semester and it's exam—that is you are newly admitted)

The GPA as at your last completed semester (in the event you have completed at least a semester).

I am a bit confused as to the precise meaning of "expected grade"

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